18 Apr '17, 5pm

Luggage sales have outpaced handbag sales, data finds:

Buying a handbag, a necklace or a pair of shoes has long been a good way for consumers to spice up their wardrobe, especially when they don’t have extra money to splurge on a new outfit, but there are some signs that this bright spot in the fashion industry may be fading. Sales of shoes and fashion accessories, together representing about 35% of the $334 billion US retail fashion industry, have declined. Shoes dropped 1% to $65 billion, and accessories fell 7% to $51 billion in the year ended February 2017, following gains a year earlier, according to Port Washington, NY-based market research firm The NPD Group . Worse yet, not only are consumers spending less, they are buying fewer items as well, the data showed. NPD didn’t respond to a request seeking additional comment. “Consumers tend to build their wardrobes through accessories and footwear, giving their outfit a fres...

Full article: https://retail.emarketer.com/article/what-not-wear-shoe-f...

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